Major League Baseball on Tuesday formally announced its media rights extension deals with Fox and Turner, rights worth $6.8 billion over eight years, starting in 2014.

Including the extension over the same period MLB signed with ESPN in August, baseball will make a total of $12.4 billion from its media rights over the life of the deal, 2014-'21.

According to Commissioner Bud Selig, that money is split equally among the 30 MLB teams, which means that each club stands to get more than $413.3 million of revenue because of the new deal.

The current media rights deal ends after the 2013 season.

So the average annual rights fees of $1.55 billion MLB's broadcast partners will pay starting in 2014 breaks down this way:

ESPN, $700 million a year

Fox, $525 million a year

Turner, $325 million a year

The new rights fees MLB will collect for the new deal are more than double the fees for the current deal.

The new rights deal calls for Fox to get the World Series, the All-Star Game, one League Championship Series, two League Division Series and two windows for its Saturday afternoon telecasts.

Turner is to get one LCS, two LDS and 13 regular-season Sunday afternoon games.

According to Sports Business Daily, which cited industry sources, the MLB Network will get at least two games from Fox's LDS package, and pay Fox $30 million per year for those games. Fox and Turner will split the LDS. Turner currently has all four LDS. Fox has the option to put some of its LDS on cable, but Fox declined to say on Tuesday what its plans are in that regard.

The World Series remains on broadcast TV.

Fox, Turner and ESPN all get so-called "TV Everywhere" rights, which allows them to stream game telecasts on their web sites. Turner is to get more online highlight rights and interactive TV rights.

As part of the new deal, the networks will not have to black out national games in the local markets of the competing teams.

About Bob Wolfley

Bob Wolfley retired in October 2014 He wrote the SportsDay blog and column and about TV and radio issues.